Iowa Department of Insurance and Financial Services

Iowa’s captive domicile combines Midwestern reliability with forward-thinking regulation. Our captive taxes and fees are reasonable and competitive. With dedicated, highly responsive regulators, a collaborative mindset, and an efficient process, the commitment to your captive’s long-term viability is unwavering. Choose Iowa to build with confidence.

Iowa Department of Insurance and Financial Services

Address:

1963 Bell Avenue, Suite 100

Des Moines, Iowa 50315

Phone: (515) 654-6600

Domicile Overview

Iowa is a newer, but highly credible captive insurance domicile offering a stable, transparent, and efficient regulatory framework. Iowa has an extensive insurance heritage and ecosystem, largely built around the nearly 200 domestic insurance carriers located throughout our pro-business state. A modern captive statute combined with tremendous insurance industry expertise, knowledgeable regulators, and reasonable captive taxes and fees makes Iowa a great destination for captives.

Our regulatory team is dedicated to captive insurance, ensuring new applicants and existing captives receive the attention they deserve. We are consistent and responsive offering clear communication, predictable processing timelines, and a collaborative relationship with captive owners and managers. The licensing process is straightforward, with decisions made by regulators who understand the purpose and mechanics of captive structures.

Permitted Structures

Iowa allows a broad range of captive types, including:

Pure Captives
Industrial Insured Captives
- Risk Retention Groups
Branch Captives
Protected Cell Captives
Special Purpose Captives
- Group Captives
- Agency Captives
- Other Captives

Taxes and Fees

Iowa’s captive tax and fee structure is competitive and reasonable:

Our minimum premium tax is $5,000 and our maximum premium tax is $100,000.
No maximum premium tax is applicable to protected cell captives.

Application Licensing fee is $200

Annual Renewal Registration fee is $300

These fees apply to each captive, each individual series of members of a limited liability company, and each protected cell.
Outside legal, financial, and examination services may be utilized, and the reasonable cost may be charged to the applicant.

Minimum Capital and Surplus Requirements:

Pure Captive: $250,000
Industrial Insured Captive: $500,000
Risk Retention Group ($500,000)
Protected Cell Captive ($500,000)
Branch Captive (depends on formational type of parent company)
Special Purpose Captive (determined by Commissioner)

Key Advantages

Dedicated captive regulatory staff within the Iowa Insurance Division
Efficient licensing process with direct access to decision-makers
Stable regulatory environment grounded in Iowa’s broader insurance infrastructure
Competitive premium tax structure with a reasonable maximum tax
Flexible corporate structures and governance options
Strong legacy as a leading traditional insurance state

Ideal For

Iowa is a strong choice for organizations seeking a modern, responsive onshore domicile with an emphasis on regulatory clarity and long-term collaboration. It’s particularly well-suited for risk managers, finance professionals, and advisors seeking a practical, relationship-driven approach to captive oversight.

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